Exploring big data business models & the winning value propositions behind them

Week X
Topic A
Title:
A title/headline for your topic
Exploring big data business models & the winning value
propositions behind them
Link:
Link(s) to the source(s) for your
topic
https://www.businessmodelsinc.com/big-data-business-
models/
Summary/Precis:
In your own words
In digital age, big data plays a decisive role and helps a
company solidify and leverage its position in the market by
creating value propositions. For example, Amazon, Apple and
Netflix uses big data to present their customers products and
services that might be relevant to them. Companies also look
for the ways to monetise their own data to generate additional
revenue. Big data business model centres around companies
that have valuable big data that they want to monetise in some
way. These include three core big data business models – data
as a service(DaaS), information as a service (IaaS) and answers
as a service (AaaS).
Why I found this interesting:
In your own words
As it is said that data is the new oil yet, there is a high chance of
developing successful business model based on big data. I
found the above three interesting and worth developing a
business model in this time when whole business world is
shifting digitally and globalisation is creating a border-less
global market.
DaaS focuses on providing customers a way to mine their own
insights to develop a solution for customers. IaaS focus on
providing insights based on the analysis of processed data.
Lastly, AaaS focuses on providing higher level answers to
specific questions rather than providing information that can
be used to generate answer.
Such business models if executed properly can be a path-
breaking model in the businesses of data intermediaries. They
would be able to create a business model that is not only
sustainable but also has immense growth opportunities.
Companies are ready to partner with companies which are able
to analyse their data and present them with customised
solutions while customers are looking for companies that can
provide them customised products.
How this links to the course:
In your own words
Using big data analytics, we can develop a business model that
will be covering multidimensional aspects to optimise big data
usage. For example, we can create a pay-as-you-go social
media analytics platforms that will combine the experience of
digital advertising and direct marketing by providing insights to
brands about the activities, preferences and movements of